Houston Small Business Liquidation Lawyer
In a challenging economy, many small business owners are swamped with overwhelming debt that leaves them unable to function in the long term. While making the decision to end a business is always a difficult one, Chapter 7 bankruptcy can offer an excellent way to eliminate your small business debts and start fresh without the ongoing hounding of creditors.
Managing the liquidation of a small business is a complex undertaking, and it is essential that you have skilled legal help in order to best take advantage of the options afforded to you by the bankruptcy courts. At the Russell Van Beustring P.C., we work directly with our clients to ensure that their unique needs are met successfully. Contact us at 713-973-6650 today to speak to our experienced bankruptcy attorneys.
Assets That May Be Liquidated
As part of the process of bankruptcy filing, many of your business assets may be liquidated in order to pay the nondischargeable debts you have. This process will be managed by a court-appointed trustee, and may use proceeds from the sale of any of the following assets to compensate your creditors:
- Office furniture
- Unsold merchandise
- Intellectual property rights
- Copyrights, patents, and trademarks
While surrendering your assets for liquidation is not ideal, it is frequently the best option available and can result in the entirety of your small business debt being eliminated. This is no small benefit, particularly if you intend to pursue other ventures.
If you are seeking a way out from underneath overwhelming small business debt, liquidation through Chapter 7 may offer a solution for your situation. For more information and the experienced representation you need, contact the Houston small business liquidation lawyers at the Russell Van Beustring P.C., by calling 713-973-6650.